Tag: SEC Filings

How Do I Order Certified Copies of SEC Filings?

How Do I Order Certified Copies of SEC Filings?

By Daniel Edstrom
DTC Systems, Inc.

Send an email to [email protected]
 
Ask them for ALL filings related to the trust and then give them the exact name of the trust (this can be a challange).  If you can, give them information about one of the filings from this trust (accession number and/or SEC file number).  There are usually not that many files associated with a specific securitized trust.  I received approx. 2,000 pages.  It cost me $26.00 for photocopy fees.
 
Also you can only request one entity per email.  So if you want copies of information for this trust from the depositor (for instance my static loan level file was in an 8-k from the depositor), you will need to request them separately from the trust entity request.  In this case reference the specific documents you need by date, accession number and SEC filing number (because the depositor usually has a very large number of filings which are probably unrelated to your specific trust).

Tell them you are ready willing and able to pay the fees necessary.  Give them your name and address.  You might want to give them your phone number, but if they have questions they will probably just email you.  I asked them for two copies of everything but they said I will only get one copy.

Obligations and Defaults

We now jump ahead in the story and skip all the details of securitization including when, if and how your loan was allegedly transferred into the mortgage loan pool (the securitization trust).

If you haven’t heard of John Courson,

I want to change that.

John is the President and CEO of the Mortgage Bankers Association.

by Daniel Edstrom

Mr. Courson believes that it is a moral imperative to keep your financial obligations.  If you haven’t seen the video here http://www.thedailyshow.com/, you should.

Now let’s look at the alleged obligations and who is actually obligated.  This will lead us down the road to defaults and who is actually in default.  If you have a mortgage, you by default are the obligor because you are the one with the “obligation” to repay.  The note you signed is not the obligation but is evidence of the obligation.  The obligation arose when money was advanced by a “creditor” and you accepted the money.  So even if the note doesn’t exist there is still an obligation.  A default occurs when you fail to meet the terms of your obligation.  In days gone by this would be the end of the story, but thanks to Wall Street financial engineering we haven’t even reached the beginning yet.

We now jump ahead in the story and skip all the details of securitization including when, if and how your loan was allegedly transferred into the mortgage loan pool (the securitization trust).  We will just assume for the sake of argument that your loan is in the pool and that everything is A-OK, which is what the big banks with the robo-signing blues are saying anyway.  The SEC Filings are the governing documents and because they are typically a thousand pages of legal gibberish, you have to understand what words mean, such as “obligation” and “default”.  Let’s start with default.  Here is what US Bank, N.A., which acts as Trustee on thousands of securitized trusts says a default is (from http://www.usbank.com/cgi_w/cfm/commercial_business/products_and_services/corp_trust/terms_ps.cfm#d): Continue reading “Obligations and Defaults”

Just When You Thought You Knew Something About Mortgage Securitizations

Dan Edstrom is a guy who is in the right place at the right time. His profession? He performs securitization audits (Reverse Engineering and Failure Analysis) for a company called DTC-Systems.

We thank the guys from zerohedge.com for this article!

Make sure you visit them today to learn more…

Just When You Thought You Knew Something About Mortgage Securitizations

by williambanzai7

Dan Edstrom is a guy who is in the right place at the right time.

His profession? He performs securitization audits (Reverse Engineering and Failure Analysis) for a company called DTC-Systems.

The typical audit includes numerous diagrams including the following:

  1. Transaction Parties and Flow (similar to the chart below, but much easier to understand)
  2. Note exchanged for a bond Foreclosure parties
  3. Priority of Payments from the Security Instrument (Mortgage, Deed of Trust, Security Deed or Mortgage Deed)
  4. Priority of Payments from the Pooling and Servicing Agreement

This diagram shows that they are not following the borrowers instructions in the security instrument Continue reading “Just When You Thought You Knew Something About Mortgage Securitizations”